The Indian secondary steel market fluctuated today while average trading activity was observed, as per reports. Prices fluctuated in the range of INR 100-500/t day-on-day.
As per SteelMint assessment, sponge iron offers increased marginally by INR 100-300/t; however, a slight decrease of INR 100/t was observed in the eastern and southern regions. Meanwhile, billet prices, too, moved up by INR 200-500/t even as markets in Eastern & Western India witnessed a decline in prices to the tune of INR 200-300/t.
Moreover, induction furnace grade rebar offers decreased by INR 100-500/t, although a slight increase of INR 300/t was recorded in Raigarh.
Raw material
- Karnataka based BMM Ispat offered raw pellets at INR 13,500/t exw Bellary.
Semi finished
- Induction grade billet export offers reported at $580-585/t exw Durgapur, equivalent to $610/t CPT Nepal, via road delivery.
- Neo Metaliks in Durgapur has offered steel grade pig iron at INR 39,800/t exw, however no major deals due to competitive offers through the resellers.
- Sponge P-DRI prices unaltered in Raipur and deals reported at around INR 30,800-900/t exw & INR 31,000/t on FoR Raipur basis.
- Jharsuguda, Odisha based sponge supplier offered FeM 79 P-DRI at around INR 31,000-31,100/t FoR Raipur.
- Ind Synergy offered P-DRI at INR 30,400/t & billet at INR 42,500/t exw Raigarh.
- Mahavir Ferro Alloys sold around 500 t sponge iron (mix material) at INR 31,700/t exw Rourkela.
- BMM Ispat offered FeM 80 P-DRI lumps at INR 29,400/t exw Bellary & around 1,000 t deals reported in nearby region.
- BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 30,100/t exw Bellary.
Rebar (12 mm)
- GK TMT is offering at INR 48,800/t exw Raipur (Down by INR 200/t).
- Shrishtii TMT offers reported at INR 46,900/t exw Raigarh (Up by INR 300/t).
- Century TMT offers reported at INR 48,600/t exw Muzaffarnagar.
- Indo Star TMT is offering at INR 48300/t exw Ghaziabad.
- Mono TMT is offering at INR 49,500/t FoR Ahmedabad (Down by INR 300/t).
- Kalika TMT offer stable at INR 48,700/t exw Jalna.
- CPC THERMEX TMT is offering at INR 45,400/t exw Durgapur.
- Chaliama based Rungta TMT offers reported at INR 46,900/t exw (Down by INR 300/t).
- Metalics 550D TMT offers reported at INR 47,700/t exw Sambalpur.
- A One Gold TMT offers reported at INR 52,500/t exw Bellary
Wire rod and structure
- Mid scale mills wire rod export offers hovering at $640/t exw Durgapur, equivalent to $665-670/t CPT Nepal, via road delivery.
- Trade discounts for wire rod in Raipur stood at INR 600-800/t & base offers stable at INR 46,000/t exw. However prices in Durgapur dropped by INR 200/t to INR 46,000-46,200/t exw.
- Raipur based heavy structure steel manufacturers, reduce the base price of 150 mm channel by INR 300/t to INR 46,900/t and maintained trade discounts by INR 400-600/t. Trade reference prices of 200 mm angle are at INR 49,300-49,600/t exw.
Reference prices as on 15th June’21
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